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Benzinga
Benzinga
Business
Akanksha Bakshi

Air Industries Secures Contract Extension For PW-4000 Jet Turbine Exhaust Cases

  • Air Industries Group's (NYSE:AIRI) Sterling Engineering subsidiary has secured a "Life of the Program Extension" of a Long-Term Agreement to deliver Turbine Exhaust Case (TEC) components for the PW-4000 jet engine used on many commercial aircraft.
  • Turbine Exhaust Cases are highly engineered critical components of jet engines.
  • The company expects the contract extension to generate revenue in excess of $6 million over its remaining term.
  • The TEC for the PW-4000 is five feet in diameter. Sterling Engineering has produced this component for the PW-4000 jet engine for over ten years.
  • Price Action: AIRI shares are trading lower by 2.36% at $0.90 on the last check Thursday.
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